Nordstrom earnings beat, retailer raises forecast, but shares fall as sales still below 2019 levels

Nordstrom on Tuesday reported fiscal second-quarter profit and sales that topped analysts’ estimates, as the department store chain used its annual anniversary sale to draw shoppers back to its stores for shoes, apparel and activewear.

Nordstrom raised its for the full year, following rivals Macy’s and Kohl’s doing the same in recent days.

Its shares were down nearly 5% in extended trading.

Here’s how Nordstrom did for the quarter ended July 31 compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:

• Earnings per share: 49 cents vs. 27 cents expected
• Revenue: $3.66 billion vs. $3.36 billion expected

Nordstrom reported net income of $80 million, or 49 cents per share, compared with a loss of $255 million, or $1.62 a share, a year earlier. Analysts were expecting earnings of 27 cents per share.

Revenue rose to $3.66 billion from $1.86 billion a year earlier, topping estimates for $3.36 billion.

Find the full press release from Nordstrom here.

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